Seychelles becomes a well-regulated jurisdiction
To meet international standards for combating anti-money laundering and terrorist financing, in particular to meet the recommendations of the OECD’s Financial Action Task Force (FATF), Seychelles introduced new laws in 2004 to regulate its financial services industry. For us the most important piece of legislation was the International Corporate Service Providers Act, which brought in many new requirements both for us and for our clients. The new requirements were challenging – the first really serious challenges faced by A.C.T. – but the company became much stronger because of them. While dealing with new requirements we even managed to form the very first company with a special licence and the very first Seychelles Limited Partnership.